APPSDigital Turbine, Inc.
Digital Turbine, Inc. (APPS) operates as a real estate investment trust (REIT) focused on the development, acquisition, and management of commercial real estate properties. The company generates revenue through rental income from its portfolio of properties, which are primarily located in major metropolitan areas across the United States. The next catalyst for Digital Turbine is October 14, 2026 — Bumble is getting acquired for $1.3 billion. How will this affect Digital Turbine? This event will test the company’s ability to capitalize on the growing demand for digital advertising and app-based services, particularly in the context of a major acquisition in the adjacent space.
- Digital Turbine’s revenue grew 15.2% year-over-year to $588.68M in the most recent period, though net income remains negative at -$49.01M.
- Free cash flow (TTM) stands at $72.90M, indicating the company is generating cash despite its net loss.
- The debt-to-equity ratio of 1.92x suggests a moderate leverage position, though the company remains a net loser in the short term.
The Read
Digital Turbine's stock has historically plunged about 25% after earnings beats due to concerns over debt and ad model challenges, then dropped about 37% amid Android ecosystem uncertainty despite segment growth, but rallied about 6% on AI partnership news and surged nearly 14% following strategic alliances with Google Cloud and Orange that boosted growth outlook.
The schedule
- Wed14Oct
The acquisition tests whether Digital Turbine can leverage its app ecosystem to benefit from Bumble's expansion, unlike the last privacy-related catalyst that failed to drive revenue growth.
- Wed14Oct
The event tests whether the company can capitalize on active trader demand in the stock market apps segment, differing from the last similar print that underperformed due to weak user engagement.
- Mon19Oct
The sale tests whether Digital Turbine can benefit from the broader app economy shift, unlike the last similar print that failed to materialize due to regulatory delays.
- Thu10Dec
The updates test whether the company can leverage AI partnerships to drive product innovation, unlike the last similar print that failed to materialize due to delayed tech integration.
- Sun7Feb
The earnings release tests whether the company can deliver better-than-expected revenue and margin improvements, unlike the last print that missed due to weak ad performance.
- Thu15Apr
The review tests whether the company can secure favorable refinancing terms, unlike the last similar print that failed to materialize due to rising interest rates.
- Tue11May
- Thu3Jun
The conference tests whether the company can leverage its brand to attract new investors, unlike the last similar print that failed to materialize due to weak investor sentiment.
Past
- Tue15Sep
Actual outcome: Bull · $12.22 at outcome
The stock rose 7.4% following the Android Privacy Sandbox implementation milestones, reflecting positive market sentiment toward the progress in testing Digital Turbine's ad-yield resilience. The rally suggests investors viewed the advancements as a key step toward long-term growth, despite any short-term uncertainties.
Google's rollout of Privacy Sandbox on Android faces critical implementation milestones, testing Digital Turbine's ad-yield resilience.
- Thu6Aug
The earnings release tests whether the company can deliver better-than-expected revenue and margin improvements, unlike the last print that missed due to weak ad performance.
- Tue4Aug
Actual outcome: Bull
Digital Turbine delivered a massive Q1 fiscal 2027 beat, with revenue surging 27% year-over-year to $166 million, driven by strength in its App Growth Platform and AI tools. The company also raised its full-year revenue and EBITDA guidance, which fueled a massive 38.5% rally as investors gained confidence in the sustainability of its turnaround and growth momentum.
Digital Turbine delivered a massive Q1 fiscal 2027 beat, with revenue surging 27% year-over-year to $166 million, driven by strength in its App Growth Platform and AI tools. The company also raised its full-year revenue and EBITDA guidance, which fueled a massive 38.5% rally as investors gained confidence in the sustainability of its turnaround and growth momentum.
- Fri15May
Actual outcome: Bull · $4.55 at outcome
Digital Turbine exceeded the bull target following a series of positive strategic announcements, including a deepened partnership with Google Cloud to expand AI-powered optimization and a new app distribution partnership with Orange in Europe. These developments strengthened the company's growth outlook and AI capabilities within the Android ecosystem, driving the stock higher ahead of its upcoming Q4 earnings.
- Thu14May
Actual outcome: Bull · $10.16 at outcome
Digital Turbine reported fourth-quarter fiscal 2026 financial results that beat analyst expectations, with revenue growing 20% year-over-year to $142.5 million and non-GAAP EPS reaching $0.16. Additionally, the company issued fiscal year 2027 revenue guidance above consensus estimates, driven by growth in its on-device business and app growth platform. This double beat and optimistic outlook triggered a massive short-term rally in the stock. [Market retrospective · Short-Term (6–10 days)] Missed anticipation: +108.6% from 2026-05-14 to 2026-05-29 (~5.6σ vs typical 10d vol). Provisional target 2026-05-29. Confidence 98%. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-05-29: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-05-29 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-01: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-01 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-02: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-02 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-03: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-03 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-04: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-04 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-05: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-05 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-08: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-08 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-09: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-09 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-10: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-10 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-11: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-11 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-12: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-12 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-15: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-15 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-16: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-16 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-17: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-17 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-18: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-18 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-19: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-19 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-23: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-23 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-24: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-24 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-24: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-24 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-25: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-25 observed.
Digital Turbine reported fourth-quarter fiscal 2026 financial results that beat analyst expectations, with revenue growing 20% year-over-year to $142.5 million and non-GAAP EPS reaching $0.16. Additionally, the company issued fiscal year 2027 revenue guidance above consensus estimates, driven by growth in its on-device business and app growth platform. This double beat and optimistic outlook triggered a massive short-term rally in the stock. [Market retrospective · Short-Term (6–10 days)] Missed anticipation: +108.6% from 2026-05-14 to 2026-05-29 (~5.6σ vs typical 10d vol). Provisional target 2026-05-29. Confidence 98%. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-05-29: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-05-29 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-01: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-01 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-02: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-02 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-03: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-03 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-04: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-04 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-05: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-05 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-08: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-08 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-09: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-09 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-10: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-10 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-11: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-11 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-12: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-12 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-15: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-15 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-16: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-16 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-17: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-17 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-18: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-18 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-19: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-19 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-23: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-23 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-24: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-24 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-24: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-24 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-06-25: +108.6% from 2026-05-14 (~5.6σ). Target date 2026-05-21 reached; move through 2026-06-25 observed.
- Thu7May
Actual outcome: Bull · $4.21 at outcome
Although the anticipated Q4 earnings release was scheduled for May 26, the stock rallied 5.5% during the outcome window and eventually surpassed the $4.45 bull target. The upward momentum was driven by the announcement of a strategic partnership with Databricks to integrate AI into Digital Turbine's mobile platform, which bolstered investor sentiment ahead of the upcoming financial results.
- Fri20Mar
Actual outcome: Bear · $2.82 at outcome
Despite reports of double-digit growth in Digital Turbine's ODS and AGP segments, the stock fell 9.6% and breached the $3.50 bear floor. Ongoing concerns regarding fierce ad-tech competition and broader uncertainty surrounding the Google Privacy Sandbox and Android ecosystem overshadowed the positive segment momentum, driving shares lower.
- Tue3Feb
Actual outcome: Bear · $4.15 at outcome
Digital Turbine reported a Q3 EPS beat ($0.18 vs $0.16 estimate) and 12% YoY revenue growth, initially causing the stock to gap up. However, the rally quickly reversed, driving the price significantly below the bear floor, as investors focused on persistent structural headwinds, including high debt, weak margins, and the challenged mobile advertising model. The market determined that the results, despite the headline beat, were insufficient to establish the critical positive inflection point needed for a sustainable turnaround.